Robert W. Baird Has Lowered Expectations for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its price target cut by equities research analysts at Robert W. Baird from $32.00 to $27.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 51.09% from the stock’s current price.

Other analysts have also issued reports about the company. TD Cowen boosted their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Piper Sandler reduced their target price on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Morgan Stanley upped their price target on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Redburn Atlantic downgraded shares of Bloom Energy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.66.

Bloom Energy Stock Up 1.3 %

BE stock opened at $17.87 on Tuesday. The stock has a market cap of $4.12 billion, a P/E ratio of -31.91 and a beta of 3.27. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock’s fifty day simple moving average is $22.43 and its two-hundred day simple moving average is $20.49. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Bloom Energy during the 3rd quarter worth approximately $34,000. Peapack Gladstone Financial Corp lifted its stake in shares of Bloom Energy by 4.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock valued at $2,871,000 after purchasing an additional 11,525 shares during the period. Franklin Resources Inc. boosted its position in shares of Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock valued at $1,314,000 after purchasing an additional 48,258 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Bloom Energy by 21.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,404 shares of the company’s stock worth $226,000 after purchasing an additional 3,824 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.